I've watched HTMM twice, Penny Stocking 1 and 2 yet I still get the Jitters when trading. I've finally figured out what I'm not good at (eod trading) and what I'm good at (dip buying). But I cant seem to trust myself and execute trades consistently.
Today, $RUN was on my radar, It dipped to 6.25 to prior day resistance. I wanted to buy but got nervous and couldn't press buy.
$EBIO dipped to 4.50 which was multi week support. Should have bought it at the open but I was nervous of it falling more. In hindsight I should have bought it.
Long story short, I'm realizing that stocks are more mental than I originally imagined. For anyone that is having this problem. Trust your process and if the stocks fails. EXIT IT! Like Tim says. CUT LOSSES ASAP. Today, Even if I bought RUN and EBIO, if it didn't do what I wanted I could have just exited but I was too scared.
SCARED MONEY DOESNT MAKE MONEY!
That said, often I'll cut winners short from being scared they are going to run back to against my position, classic disposition effect...
@bslick just make sure your trading small. And if your having a bad loosing streak just take some time off. Take your time with this.
@Zenyatta I have seen my share of people blowing up their accounts as well. Its tragic but for some thats the only way they will learn..
@bslick That's good advice from Jason imo. I also take time off after long winning streaks. It's a marathon, no Usain Bolt distance here...
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